Landore Resources (LON:LND) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Landore Resources Limited (LON:LND) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 3.72 and traded as low as GBX 3.51. Landore Resources shares last traded at GBX 3.64, with a volume of 1,464,593 shares trading hands.

Landore Resources Trading Up 9.2%

The company has a market capitalization of £9.94 million, a price-to-earnings ratio of 14.08 and a beta of -0.15. The stock’s fifty day simple moving average is GBX 3.77 and its 200-day simple moving average is GBX 3.72.

About Landore Resources

Landore Resources (AIM: LND) is the 100% owner of the highly prospective BAM Gold Project, Northwestern Ontario, Canada, which has a resource estimate of 1.5M oz Au.

Landore Resource’s strategic objective is to crystallise value from BAM’s last estimated NPV of US$333.6m @ US$1,800/oz spot (from May 2022 PEA), as well as generating additional value from its non-core portfolio of precious and battery metals projects in eastern Canada and the USA.